Title: Pre-approval vs Pre-qualification: Why does it matter for home buyers?
I get what you’re saying about the logic behind all the paperwork, but honestly, sometimes it feels like lenders take things a bit too far. When I refinanced last year, they wanted to see statements for every account I’d touched in months—even for a small transfer from my savings to checking. I get the anti-money laundering stuff, but it almost felt like they were looking for reasons to slow things down.
I’m not saying they shouldn’t be careful, but there’s got to be a middle ground. If someone’s got their own cash and a steady job, does it really matter if they moved money between their own accounts? I had to scramble to find old paystubs and explain a $200 Venmo from my brother. It’s not the end of the world, but it made me wonder if all this “protection” sometimes just adds stress for regular buyers who aren’t doing anything shady.
Maybe I’m just more cautious because of how many hoops I had to jump through, but I wish there was a bit more trust in the process... or at least some flexibility.
I get where you’re coming from, but honestly, I’d rather lenders be overly thorough than risk a deal falling apart at the last minute. I’ve seen buyers lose out because something small wasn’t caught early. It’s a pain, but that extra scrutiny can save bigger headaches down the line.
